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.8%. president obama is still traveling in asia today, where he is calling for continued political reforms. american pilots will vote again on a contract offer from the airline, which remains in bankruptcy. the pilots rejected a previous offer in august. and a quick check of gas prices shows the price of a gallon of unleaded dropped a couple of pennies last week, but is down dramaticaly from a month ago. let's get some trader thoughts now from scott bauer of trading advantage. happy monday morning to you scott. > > good morning angie. > > there is a lot of talk about this fiscal cliff as you know. but i am hearing that traders really believe there is already a backroom deal in the works. > > you know, that is what they say, and i tend to agree with that. there is no way, it's just inconceivable to think that something has not at least been in the works for a while. certainly there are no i's dotted or t's crossed, but something has been in the works for a while. keep this in mind: what's really important - and we saw the start of this last friday, when the two parties sat down with preside
predicted president obama would be re-elected and that the u.s. is not likely to fall off the fiscal cliff. there are lots of rumblings coming out of washington. let's turn to scott bauer of trading advantage to talk about this alleged fiscal cliff. what do you think - and good morning - deal or no deal, scott? > > good morning angie. yeah, there is going to be a deal. it may not be later this week, it may not be next week, but i think at a minimum we are going to see congress, the president, everyone say, you know what, we are on the table together here, and even if we have to extend this three months, six months, we are going to get it done. there is no way with the recovery that we have seen - and i'm not talking about the stock market recovery, i am talking more of the consumer sentiment recovery, housing recovery - with what we have seen the last quarter of this year, there is no way that the guys in washington can harm that or add anything to take the momentum away from that. it just won't happen. > let's talk about the stock market. what levels are you watching here? > > 1390 really
. > > larry levin of trading advantage. always a pleasure larry. > > thank you. president obama will hold a news conference wednesday to speak to the nation about the fiscal cliff, and he's calling congressional leaders to the white house on friday. chuck coppola joins us in the newsroom with more. the so-called fiscal cliff is right smack in the middle of the agenda in washington, and as our cover story shows you, the president and congressional leaders have already staked out their positions. president obama called on house republicans to give certainty to middle class families by extending middle class tax cuts immediately, before they run out at the end of the year. "i've got the pen ready to sign the bill right away. i'm ready to do it." fairness in taxes proved a key issue during the campaign. extending a tax cut for the middle class now would effectively keep republicans from holding it hostage later in negotiations to extend all tax cuts, including those for the rich. "i'm not going to ask students and seniors and middle-class families to pay down the entire deficit while people l
one. > > you too. president obama heads to philadelphia today to visit a toy manufacturing plant. it's where he will also talk about his plan to avert the so-called fiscal cliff. comments yesterday from house speaker john bohener hinted lawmakers are back to square one on settling the cliff chatter. "no subsantive progress has been made in the talks between the white house and and the house over the last two weeks." the stock market briefly sold off on boehner's comments, but then bounced back. optimism had been growing after president obama and representative boehner made remarks wednesday that a deal could be worked out. now speaker boehner insists there are still many roadblocks in the way. last night, boehner offered no details but rejected the democrats' $4-trillion plan presented by treasury secretary timothy geithner. investors have a more optimistic view on the global economy. a new survey by bloomberg shows 2/3 of investors surveyed described the worldwide economy has either stable or improving. overall, they considered the global economy to be in the best shape in 18 month
, president obama and other high-ranking administration and congressional officials seemed to hint to the media that a fiscal cliff deal would happen before the middle of or end of december, and thus risk assets took that as meaning that, really in the background, fiscal cliff negotiations are speeding up and are intensifying, and that we will have a solution. so monday's trade was really about a fiscal cliff solution. the dollar was lower, commodity prices were higher, and equities of course were higher as well. > > equities were much higher. how much of that has to do though with maybe some oversold conditions in the market? > > i think oversold conditions certainly are a part of it. the idea that the fiscal cliff will get resolved in short order is another part of it. and then third, yields on treasuries remain awfully paltry and small. you saw treasuries sell off during the course of monday. the treasury curse deepened. and really equities were the beneficiary of those capital flows as there was large asset allocation trade out of bond futures and into equity futures. > > you m
Search Results 0 to 4 of about 5